Media Release 08 February 2024

Significant sale spurs LAWD’s industrial revolution

LAWD has congratulated the vendors and buyers involved in the transaction of a major industrial development site in Melbourne’s southeast urban growth corridor, in what is a marquee sale in the evolution of the specialist real estate firm’s industrial offering.

The 83.30-hectare property at 90 Handford Lane, Officer, is held across three contiguous titles and will be acquired by ASX-listed company, Eildon Capital Group, the Providence Officer South Trust and BMYG Partner Land Opportunity No.2 Fund in a joint venture. The land, located in the Officer South Employment PSP, is expected to settle in February 2028.

LAWD Senior Director, Peter Sagar, said he was delighted to have led the sale.

“We thank the vendors for entrusting the LAWD team with this transaction and congratulate the buyers on their purchase of what is an exceptional site,” Mr Sagar said.

“Already, LAWD has a proven sales record in selling large englobo sites, master-planned communities, and superlots within master-planned communities in all greenfield growth corridors in the region, and this sale is testament to the expertise and skills we are now bringing to industrial development.

“Over the past 18 months, our commercial development transactions across Melbourne alone have reached almost $1 billion in value, and we will continue to apply our bespoke marketing approach to industrial sales – to disrupt the traditional agency model.”

Mr Sagar said the sale of the Handford Lane site was a rare opportunity to secure a flagship institutional-grade industrial asset.

“There is record demand for industrial mixed-used land across Melbourne’s fringes,” Mr Sagar said.

“This site has a high-profile road frontage, access to major arterials, and is situated near residential developments and public transport options.

“The location is not only sought after for economic benefits and supply chain efficiencies, but also its ability to attract potential employees given its proximity to housing, retail precincts and transport options.”

Mr Sagar said the sale of the property and launch into the industrial real estate sector would allow for further growth within the LAWD team.

“We will be building on the incredible talent we already have in the team and bringing in new and experienced professionals to support both vendors and buyers throughout the transaction process,” he said.

“It’s an exciting time to be in the market and we look forward to continuing to grow our presence in Melbourne’s ongoing evolution and economic growth.”

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